SGL Investment Advisors Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 37.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,287 shares of the network equipment provider’s stock after buying an additional 1,710 shares during the quarter. SGL Investment Advisors Inc.’s holdings in Cisco Systems were worth $431,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CSCO. Brighton Jones LLC grew its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 2,474 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Cisco Systems by 23.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 8,191 shares of the network equipment provider’s stock valued at $505,000 after buying an additional 1,563 shares during the period. City Center Advisors LLC purchased a new stake in Cisco Systems in the 1st quarter worth approximately $224,000. Finally, Priebe Wealth Holdings LLC purchased a new stake in Cisco Systems in the 1st quarter worth approximately $301,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Price Performance
NASDAQ CSCO opened at $68.91 on Tuesday. The stock has a 50-day simple moving average of $68.12 and a 200 day simple moving average of $64.68. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $72.55. The stock has a market capitalization of $272.42 billion, a PE ratio of 26.30, a P/E/G ratio of 2.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00.
Cisco Systems Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems’s dividend payout ratio is currently 62.60%.
Wall Street Analyst Weigh In
CSCO has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cisco Systems in a research note on Saturday, September 27th. Bank of America upped their target price on Cisco Systems from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.53.
Check Out Our Latest Analysis on CSCO
Insiders Place Their Bets
In related news, SVP Maria Victoria Wong sold 428 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $68.25, for a total transaction of $29,211.00. Following the transaction, the senior vice president directly owned 30,619 shares in the company, valued at $2,089,746.75. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.63, for a total value of $2,036,012.91. Following the completion of the transaction, the chief executive officer owned 639,000 shares of the company’s stock, valued at $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,965 shares of company stock valued at $5,559,996 in the last quarter. 0.01% of the stock is currently owned by insiders.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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